Indian-origin academic wins maths 'Nobel' Fields Medal
New York, Aug. Aug 2 : Indian-origin academic Akshay Venkatesh has been awarded the Fields Medal, which is often called the Nobel Prize of mathematics.
The award to the 36-year-old academic was announced on Wednesday at the International Congress of Mathematicians in Rio de Janeiro.
Venkatesh, who made a mark as a child prodigy, is a professor at Stanford University and is set to move to the School of Mathematics of the Institute for Advanced Study at Princeton on August 15.
He is the second Indian-origin mathematician to win the prize after Manjul Bhargava, a Princeton University professor, who received it in 2014.
The other three winners of the medal awarded every four years usuallyto four mathematicians are Caucher Birkar, 40, of the University of Cambridge; Alessio Figalli, 34, of the Swiss Federal Institute of Technology, and Peter Scholze, of the University of Bonn.
The prize carries a gold medal and an award of Canadian $15,000.
Ali Nesin of Turkey was awarded on Wednesday at the Congress another prestigious award, the Leelavati Prize sponsored by Infosys for increasing public awareness of mathematics.
Nesin is the founder of the Mathematics Village, a unique institution offering short immersion courses in mathematics for high school and college students.
The prize is named for the treatise of 12th century mathematician Bhaskara II and carries a Rs 1 million-award. Venkatesh was awarded the prize for his work in analytic number theory, homogeneous dynamics, topology, and representation theory.
The Institute for Advanced Study said he works "at the intersection of analytic number theory, algebraic number theory, and representation theory."
He won India's SASTRA Ramanujan Prize, founded by Shanmugha Arts, Science, Technology and Research Academy (SASTRA) in Tamil Nadu in 2008 and the InfoSys Prize given by the Infosys Science Foundation in 2016.
Venkatesh moved to Australia from New Delhi with his parents when he was two years old.
When he was 12, he won medals at the International Physics Olympiad and International Mathematics Olympiad and joined the University of Western Australia at 14 and graduated with a first class honours degree at 15.
At 16, he started his post-graduate studies at Princeton University and completed his PhD when he was 22 He was previously an instructor at Massachusetts Institute of the Technology, and an associate professor at New York University.
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India proposes preferential trade agreement with Mexico to deal with high tariffs
New Delhi (PTI): India has proposed a preferential trade agreement (PTA) with Mexico to help domestic exporters deal with the steep tariffs announced by the South American country, a top government official said on Monday.
Mexico has decided to impose steep import tariffs - ranging from about 5 per cent to as high as 50 per cent on a wide range of goods (about 1,463 tariff lines) from countries that do not have free trade agreements with Mexico, including India, China, South Korea, Thailand and Indonesia.
Commerce Secretary Rajesh Agrawal said that India has engaged with the country on the issue.
"Technical level talks are on...The only fast way forward is to try to get a preferential trade agreement (PTA) because an FTA (free trade agreement) will take a lot of time. So we are trying to see what can be a good way forward," he told reporters here.
While in an FTA two trading partners either significantly reduce or eliminate import duties on maximum number of goods traded between them, in a PTA, duties are cut or removed on a limited number of products.
Trading partners of Mexico cannot file a compliant against the decision on imposing high tariffs as they are WTO (World Trade Organisation) compatible.
The duties are within their bound rates, he said, adding that their primary target was not India.
"We have proposed a PTA because its a WTO-compatible way forward... we can do a PTA and try to get concessions that are required for Indian supply chains and similarly offer them concessions where they have export interests in India," Agrawal said.
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Citing support for local production and correction of trade imbalances, Mexico has approved an increase in MFN (most favoured nation) import tariffs (5-50 per cent) with effect from January 1, 2026 on 1,455 tariff lines (or product categories) within the WTO framework, targeting non-FTA partners.
Preliminary estimates suggest that this affects India's around USD 2 billion exports to Mexico particularly -- automobile, two-wheelers, auto parts, textiles, iron and steel, plastics, leather and footwear.
The measure is also aimed at curbing Chinese imports.
India-Mexico merchandise trade totalled USD 8.74 billion in 2024, with exports USD 5.73 billion, imports USD 3.01 billion, and a trade surplus of USD 2.72 billion.
The government has been continuously and comprehensively assessing Mexico's tariff revisions since the issue emerged, engaging stakeholders, safeguarding the interests of Indian exporters, and pursuing constructive dialogue to ensure a stable trade environment benefiting businesses and consumers in both countries.
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Federation of Indian Export Organisations (FIEO) Director General Ajay Sahai has said that Mexico's decision is a matter of concern, particularly for sectors like automobiles and auto components, machinery, electrical and electronics, organic chemicals, pharmaceuticals, textiles, and plastics.
"Such steep duties will erode our competitiveness and risk, disrupting supply chains that have taken years to develop," Sahai said, adding that this development also underlines the little urgency for India and Mexico to fast-track a comprehensive trade agreement.
Domestic auto component manufacturers will face enhanced cost pressures with Mexico hiking duties on Indian imports, according to industry body ACMA.
